#Renko ea trading pro#
This trading strategy is already quite old, but today it is able to make a profit on the condition of reasonable trading and when all recommendations are followedĬharacteristics of the Renko Maker Pro Trading System The system is designed for Renko charts and is based on only three indicators. You must make your own financial decisions, we take no responsibility for money made or lost as a result of our EAs, Indicators or Trading Strategies or advice on forex related products on this website.Renko Maker Pro Trading System is able to bring up to 1500+ pips (!!!) profit according to the developers. We have no knowledge on the level of money you are trading with or the level of risk you are taking with each trade. By signing up as a member you acknowledge that we are not providing financial advice and that you are making a the decision to use our EAs, Indicators or Trading Strategies at your own discretion. takes no responsibility for loss incurred as a result of our trading EAs, Indicators or Trading Strategies. So you may stand to lose more money than is in your account. Many Forex brokers also hold you liable for losses that exceed your trading capital. Only trade with money that you are prepared to lose, you must recognize that for factors outside your control you may lose all of the money in your trading account.
If you’re tired of using the same old Japanese candlestick charts, we like to introduce you to the Renko charts.įorex Trading involves the possibility of financial loss. The Profitable Renko Strategy is designed to remove a lot of the market noise generated by the standard candlestick charts. When the price action changes are not in your favour, the stop loss can be activated based on the set distance from the ATR value. You can use the ATR value as a base to define your trailing stop, which is beneficial because every time the volatility moves, your stop loss will move as well. A new box appears on the Renko charts if there is a specific amount of movement of price. The smaller the size of the boxes, the greater will be their number and vice versa. While there is no perfect box size one can select, traders usually set it as 1% of the price of the security of daily Renko charts. How do I use Renko charts in intraday trading? Instead, they use movement-based rules, therefore only respond to changes in price movement exclusively. Renko is a derivative of a special charting format known as ‘range candles‘ – where time is not taken into consideration for the candle closing condition. How different are Renko from bar or candlestick charts? Bar or candlestick charts have two dimensions: price and time. Renko charts were invented by Japanese traders hundreds of years ago, They are named after renga, a Japanese word for“brick.” Renko charts represent price changes but ignore time and volume. When a strong trend forms, Renko traders may be able to ride that trend for a long time before even one brick in the opposite direction forms. Renko charts are effective in identifying support and resistance levels since there is a lot less noise than a candlestick chart. Which time frame is best for Renko chart?Īn M1 close is ideal for scalping, while a H1 or H4 close can be used to swing trade the Renko charts as it takes 60-minutes or 240-minutes for price to confirm a close above a certain level. The Renko trading strategy is time-independent and gives you an eccentric way to view price action. The Profitable Renko Strategy is designed to remove a lot of the market noise generated by the standard candlestick charts.
#Renko ea trading free#
If you would like to get this EA further customized as per your strategy then it could be done at an additional agreed cost.įor any questions please feel free to raise a ticket here. This EA can also work on start MT4 charts using the above features.
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